Secured Loan Borrowing Popularity Continues to Rise



The popularity of secured loan borrowing continues to rise as consumers use them to borrow money with lower interest rates and longer repayment periods.

With the value of properties in the UK dramatically increasing in recent years, home owners have found themselves with more equity (the difference between their property value and any finance secured on it) in their homes than they expected. This has given people the ability to take out large loans over longer periods of time and at lower interest rates.

In the final quarter of last year, secured borrowing rose to over £14.5 billion, which was an increase of £2.5 billion on the revised figure for the quarter. These figures are the highest since 2004. Many of these loans were home improvement loans - used to increase the value of the property.




Written by Chris Burgoyne of Loan Machine Secured Loans

Newest Articles
  • Secured Loan Lenders - Secured Loan Interest Rates Cut
    Good news for those looking for a secured homeowner loan. Interest rates have been cut from a key lenders products.... More
    13/05/2010
  • Secured Loan Lenders - Secured Loan Interest Rates Cut
    Good news for those looking for a secured homeowner loan. Interest rates have been cut from a key lenders products.... More
    13/05/2010
  • Mortgages - New Mortgage Products through iGroup and GE Money
    Positive news for the Mortgage Market in that iGroup has launched a new range of products with cheaper rates and different criteria.... More
    16/04/2010
  • Unsecured Loans - Loans Shark ordered to Pay Costs
    The government’s Stop Loan Sharks initiative, launched in 2004, has helped bring to justice to a notorious loan shark.... More
    14/04/2010



ikrwnepmhf